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20121212
20121212
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: the preferred financial institution of drug cartels and money launders. that is a quote today in a u.s. department of justice report about h.s.b.c. holdings, one of the largest banks in the world. to avoid criminal prosecution, h.s.b.c. admitted today that it laundered more than $800 million for mexican drug cartels and covered up illegal transactions for burma, iran, sudan, cuba, and libya. those nations were under banking sanctions because of human rights atrocities, terrorism, or, in iran's case, a nuclear program. the british bank will pay $1.9 billion to the u.s. government, the largest such fine in history. senior correspondent john miller is in new york following the story for us tonight. john? >> reporter: scott, it's a case that has everything: everything except an arrest. and that struck some as odd because in an 80-page document of court papers, the bank admits to almost going out of its way to act as a financial clearing house for international pariahs and drug dealers. h.s.b.c. officials listed mexico in its lowest risk category for money laundering during a four- year per
purposes. u.s. says they believe it's a cover to deliver nuclear weapons. the test defies international warnings and it's likely to bring new sanctions against the north. >>> to the fiscal cliff now, leaders in washington have less than three weeks to reach a budget deal or else face automatic spending cuts and tax increases that are likely to send the country back into a recession. the agreement has been slow. president obama and congressional republicans remain split on raising taxes on upper middle-class americans. susan mcginnis is in washington with the latest now. susan, good morning to you. >> hi. good morning, terrell. both sides are talking publicly about what they want. the gop pushing back against that. but privately negotiations do continue. in an exclusive interview airing on abc's "20/20" this friday night, president obama says he's optimistic a deal will be reached, and he's confident the gop won't hold the middle-class taxes hostage to protect higher income americans. >> taxes are going to go up one way or the other, and think the key is to make sure the taxes go up on h
:00, president obama says the u.s. now recognizes syria's main opposition group as the legitimate representative of the country's people. the president's comments paved the way for greater u.s. support as the group tries to oust syrian president assad. >>> meanwhile, as the "fiscal cliff" deadline approaches, indications that the president and house speaker john boehner are reportedly talking again, at least by telephone. among the proposals, the white house may agree to less tax revenue but the speaker still wants to see what cuts the president will make. but publicly, neither side is giving anything away. >> we're still waiting for the white house to identify what spending cuts the president is willing to make as part of balanced approach that he promised americans. >> what is required is, you know, agreement by republicans to some specific revenues that includes raising rates. >> there is no indication that the president will compromise on taxes on the wealthy going up. >>> a soon-to-open bay area restaurant is wondering where are all the workers? black bear diner is set to open a restaurant
capable of reaching the u.s. >>> one part of the rocket fell into the yellow sea another into the east china sea and a third part fell into the pacific ocean east of the philippines about 2,000 miles away. >>> 4:43 now. how about a look at weather? it's going to start looking like christmas around the bay area. >> i like that cold air white christmas at least on the mountaintops. maybe a dusting of snow. very cold temperatures as the system drives in from the gulf of alaska. hi-def doppler shows showers right now and that's what we'll see to throughout, more nuisance showers throughout the morning but you can see a good cell along the peninsula to daly city, pacifica heavier rainfall very shortly. and you're going to see this sporadic showers throughout the morning hours, the possibility of an isolated thunderstorm and, yes, maybe even a couple of snowflakes over the mountaintops. look at the cold front swinging through behind that. you see all those cold clouds? those continue to drop on through at least through the morning hours. temperatures fairly chilly in the 40s. even with cloud
45 minutes or so away from the opening bell. >> u.s. stock futures are edging high they are morning. ashley morrison of cbsmoneywatch.com joins us. good morning. >> reporter: asian stocks good a boost. tokyo's nikkei added .5% to reach its highest closing in eight months and hong kong's hang seng is up 1%. >>> dow up 78 yesterday, the nasdaq up 35. >>> the federal reserve is expected to announce the details. its latest bond buying program. the central bank is expected to buy $45 billion worth of long- term treasuries a month. the goal is to lower interest rates, spurring borrowing and lending to soften the blow if we go over the "fiscal cliff." the fed will also release a revised economic outlook. that will be ben bernanke speaking today at 12:30. and that's the reason the stock futures are higher now. >> i guess yahoo got a bit of a makeover, too. >> reporter: it unveiled new versions of its free email service as it tries to regain some of the ground it los togmail. heand they have new apps. it's the first major product revamp that we have seen at yahoo since marisa mayer took over
Search Results 0 to 4 of about 5